Bridgeway Capital Management LLC Purchases Shares of 57,600 Maplebear Inc. (NASDAQ:CART)

Bridgeway Capital Management LLC acquired a new stake in shares of Maplebear Inc. (NASDAQ:CART - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 57,600 shares of the company's stock, valued at approximately $2,386,000.

A number of other institutional investors also recently added to or reduced their stakes in CART. Jones Financial Companies Lllp raised its stake in shares of Maplebear by 46.6% in the fourth quarter. Jones Financial Companies Lllp now owns 698 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Allworth Financial LP raised its stake in shares of Maplebear by 101.4% in the fourth quarter. Allworth Financial LP now owns 834 shares of the company's stock valued at $37,000 after acquiring an additional 420 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Maplebear by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,554 shares of the company's stock valued at $354,000 after acquiring an additional 440 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Maplebear by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 32,393 shares of the company's stock valued at $1,342,000 after acquiring an additional 648 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Maplebear by 277.9% in the fourth quarter. NewEdge Advisors LLC now owns 975 shares of the company's stock valued at $40,000 after acquiring an additional 717 shares during the last quarter. 63.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CART. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 target price on shares of Maplebear in a research note on Wednesday, February 26th. Morgan Stanley lifted their target price on shares of Maplebear from $44.00 to $45.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Mizuho reduced their price objective on Maplebear from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Loop Capital reduced their price objective on Maplebear from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Finally, BTIG Research raised Maplebear from a "neutral" rating to a "buy" rating and set a $58.00 price objective on the stock in a report on Tuesday, January 14th. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Maplebear presently has a consensus rating of "Moderate Buy" and an average target price of $51.04.

Maplebear Trading Up 1.6%

Shares of CART stock traded up $0.70 on Tuesday, hitting $44.31. The stock had a trading volume of 3,739,387 shares, compared to its average volume of 4,099,322. Maplebear Inc. has a twelve month low of $29.84 and a twelve month high of $53.44. The firm has a market cap of $11.63 billion, a P/E ratio of 29.74, a PEG ratio of 1.19 and a beta of 1.19. The company has a fifty day moving average price of $40.66 and a two-hundred day moving average price of $43.52.

Maplebear (NASDAQ:CART - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.86 million. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. Maplebear's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. On average, analysts expect that Maplebear Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Fidji Simo sold 2,033 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $40.00, for a total value of $81,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,654,559 shares of the company's stock, valued at approximately $66,182,360. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Morgan Fong sold 5,249 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $42.57, for a total transaction of $223,449.93. Following the completion of the sale, the general counsel now directly owns 484,292 shares in the company, valued at approximately $20,616,310.44. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,165 shares of company stock valued at $1,541,785. Company insiders own 26.00% of the company's stock.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.